{"title":"Do Renewable Energy Incentive Policies Improve the Performance of Energy Firms? Evidence from OECD Countries","authors":"Aminu Hassan","doi":"10.1111/opec.12146","DOIUrl":"https://doi.org/10.1111/opec.12146","url":null,"abstract":"Natural capital inventory approach to sustainability accounting advocates accountability system that keeps stock of natural capital intact. Substituting exhaustible energy resources with renewable energies (RE) is a particular example of the ‘substitutability’ condition for sustainability and a key principle of the natural capital theory. This paper investigates the effects of RE incentive policies, as facilitators of ‘substitutability’, on the financial performance of 420 energy firms in OECD countries over 4 years (2013, 2014, 2015 and 2016). Findings reported using fixed effects panel‐data modelling reveal that most RE incentive policies deployed in OECD countries stimulate improved accounting‐based measures of financial performance. In addition, some incentive policies that are long‐term in nature appear value relevant. Overall, the paper documents that substituting RE for fossil fuels, incentivised through RE policies, stimulates improved financial performance of energy companies in OECD countries. The significance of these results is evident in the empirical support they lend to the effectiveness of RE incentive policies, progress of global energy transition and the natural capital inventory theory. Furthermore, the results could be of benefit to policymakers, energy firms and investors.","PeriodicalId":204209,"journal":{"name":"SRPN: Energy Politics (Topic)","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132800951","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Energy Efficiency and Conservation at Residential Sector Like Home and Building","authors":"Kekan N.R, Taware P.R","doi":"10.2139/ssrn.3418440","DOIUrl":"https://doi.org/10.2139/ssrn.3418440","url":null,"abstract":"This paper provides study of the Energy Efficiency regulatory framework as well as current financial saving mechanisms and conservation available in the building sector. The review has found that some of the existing Energy Efficiency method, Conservation Method financing schemes has been successful while others could little bit lagging on other existing schemes to improve its effectiveness. Right now the problem is Careless towards the energy usage, Use of existing electrical and electronics home appliances and rating of appliances. This study is proposes an automatic demand response system for lighting based on wireless sensor networks (WSN) in order to reduce the peak electricity. This method take care of lighting control according to need of luminance of light. The review will explore the strengths and gaps of the available schemes and will propose some, so that we will utilize that energy in rural areas, villages where light is not reached till date. ways to increase the uptake Energy Efficiency & Conservation Method. Lighting control using day lighting can reduce energy consumption in buildings. By using conservation method we save consumption of light so that we save financial also and save the energy also and contribute to nation.","PeriodicalId":204209,"journal":{"name":"SRPN: Energy Politics (Topic)","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-05-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130532726","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A Household’s Power Load Response to a Change in the Electricity Pricing Scheme: A Microeconomic-Physical Approach","authors":"Walid Matar","doi":"10.2139/ssrn.3330927","DOIUrl":"https://doi.org/10.2139/ssrn.3330927","url":null,"abstract":"Energy economists are interested in how a change in electricity prices prompt a response by way of end-user power demand. If historical prices are low and infrequently-changing, it becomes difficult to estimate price elasticities statistically, especially in the short-run. This paper extends on a previous analysis by incorporating more demand-reducing measures within a utility maximization framework for households. The framework is informed the physical equations that govern how electricity is consumed. The measures considered are:<br><br>1. independently adjusting the thermostat set-point across seasons,<br><br>2. turning off lights, and<br><br>3. switching off consumer electronics.<br><br>We have calibrated the physical component for a dwelling in Saudi Arabia. Domestic electricity tariffs in the progressive pricing structure were partially raised in 2018. In addition to those raises, the response to other electricity pricing schemes is analyzed: time-of-use and real-time prices.<br><br>We show that for a household with a low preference for electricity, the 2018 price increases do warrant adjustment in indoor temperature in the hot summer months and lower electricity use for consumer electronics. Since we adopt a dwelling in Saudi Arabia, the response measure that is most exercised is thermostat set-point adjustments. A subdued response is found for households that have adopted higher energy efficiency, or have high preference for electricity.","PeriodicalId":204209,"journal":{"name":"SRPN: Energy Politics (Topic)","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-02-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115910786","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Central- versus Self-Dispatch in Electricity Markets","authors":"Victor Ahlqvist, P. Holmberg, Thomas P. Tangerås","doi":"10.2139/ssrn.3302569","DOIUrl":"https://doi.org/10.2139/ssrn.3302569","url":null,"abstract":"In centralized markets, producers submit detailed cost data to the day-ahead market, and the market operator decides how much should be produced in each plant. This differs from decentralized markets that rely on self-commitment and where producers send less detailed cost information to the operator of the day-ahead market. Ideally centralized electricity markets would be more effective, as they consider more detailed information, such as start-up costs and no-load costs. On the other hand, the bidding format is rather simplified and does not allow producers to express all details in their costs. Moreover, due to uplift payments, producers have incentives to exaggerate their costs. As of today, US has centralized wholesale electricity markets, while most of Europe has decentralized wholesale electricity markets. The main problem with centralized markets in US is that they do not provide intra-day prices which can be used to continuously up-date the dispatch when the forecast for renewable output changes. Intra-day markets are more flexible and better adapted to deal with renewable power in decentralized markets. Iterative intra-day trading in a decentralized market can also be used to sort out coordination problems related to non-convexities in the production. The downside of this is that increased possibilities to coordinate increase the risk of getting collusive outcomes. Decentralized day-ahead markets in Europe can mainly be improved by considering network constraints in more detail.","PeriodicalId":204209,"journal":{"name":"SRPN: Energy Politics (Topic)","volume":"88 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-12-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124557095","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Climate and Economic Rationale for Investment in Life Extension of Spanish Nuclear Plants","authors":"Anthony Fratto-Oyler, J. Parsons","doi":"10.2139/ssrn.3290828","DOIUrl":"https://doi.org/10.2139/ssrn.3290828","url":null,"abstract":"Spain's seven operating nuclear plants currently provide more than 20% of its electricity. Each of these began operation in the 1980s and is approaching the end of its 40-year design life. Extending their lives will require additional investments. Should Spain make the investment and extend their lives, or should they be retired at the end of their design life? We show that investing in nuclear plant life extensions is the least- cost alternative for further reducing GHG emissions. We also show that in assessing the cost of renewable alternatives it is critical to take into account the time profile of the available renewable resource. Solar PV and especially wind capacity were expanded significantly since 2000, and significantly greater penetration, especially of solar PV, is promised out to 2030 in order to reduce GHG emissions still further. We show that at these expanded penetration levels, curtailment becomes a significant determinant of system cost. This significantly improves the relative value of nuclear life extensions as a contributor to reducing GHG emissions.","PeriodicalId":204209,"journal":{"name":"SRPN: Energy Politics (Topic)","volume":"46 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-11-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114933382","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Rise of Community Energy from Grassroots to Mainstream: The Role of Law and Policy","authors":"A. Savaresi","doi":"10.1093/JEL/EQZ006","DOIUrl":"https://doi.org/10.1093/JEL/EQZ006","url":null,"abstract":"\u0000 In recent years, national and subnational law-makers and policy-makers have increasingly adopted measures to stimulate decentralised renewable energy generation, turning local and rural communities into prominent actors in the energy transition. The recast of the EU Renewable Energy Directive follows this trend, prompting all EU Member States to adopt measures to spearhead community energy. Yet to date, only a handful of ‘pioneer’ EU Member States—most saliently Denmark, Germany and the UK—have accrued significant experience with the mainstreaming of community energy. This article reflects on the role of law and policy in turning grassroots community action into a mainstream means for renewable energy generation. It unpacks the regulatory questions underlying the notion of community energy embedded in the Renewables Directive, looking at how these have been addressed in pioneer Member States. This analysis aims to deliver greater understanding of community energy, to highlight gaps in our knowledge of it, and ultimately to identify an agenda for further scholarly enquiry.","PeriodicalId":204209,"journal":{"name":"SRPN: Energy Politics (Topic)","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-08-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127844806","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Predictive Power of Industrial Electricity Usage Revisited: Evidence from Non‐Parametric Causality Tests","authors":"M. Bonato, Rıza Demirer, Rangan Gupta","doi":"10.1111/opec.12119","DOIUrl":"https://doi.org/10.1111/opec.12119","url":null,"abstract":"Da et al. (2015b) report that the industrial electricity usage growth rate carries predictive ability over stock returns up to one year. Using the recently developed nonparametric causality test by Nishiyama et al. (2011), we show that the predictive power of industrial electricity usage can be explained by an “industry effect” that is transmitted via the volatility channel. We argue that the countercyclical premium associated with industrial electricity usage growth is driven by the industry components that drive stock reversals, thus resulting in the negative relationship between today’s industrial electricity usage and stock returns in the future. The findings are in line with the notion that the returns on industry portfolios are informative about macroeconomic fundamentals and suggest that the informational value of industrial electricity usage as a business cycle variable may be an artifact of return reversals driven by past industry performance","PeriodicalId":204209,"journal":{"name":"SRPN: Energy Politics (Topic)","volume":"56 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121255975","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Historical Perspective on Energy Transitions","authors":"Samuel A. Van Vactor","doi":"10.2139/ssrn.3178176","DOIUrl":"https://doi.org/10.2139/ssrn.3178176","url":null,"abstract":"Mankind has relied on fossil fuels for a stunningly short time. Until the Industrial Revolution wood, wind, and water – renewables - were the primary energy resources. Home heating and cooking was done from a family hearth using mainly wood. If someone wanted to move about they walked, rode horses, or drove carts pulled by draft animals. Wind and water mills were used to grind grains and operate simple machinery but were not yet harnessed to industry. The first energy transition started when Great Britain began mining coal during the Elizabethan era, however it took several centuries before fossil fuels became a universal solution to the quest for heat, light, mechanical motion, and movement.","PeriodicalId":204209,"journal":{"name":"SRPN: Energy Politics (Topic)","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-05-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123692077","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Wind Value in Hydropower Dominated Electricity Market","authors":"Hannu Huuki","doi":"10.2139/ssrn.3151389","DOIUrl":"https://doi.org/10.2139/ssrn.3151389","url":null,"abstract":"This paper studies the interaction between hydro and wind power in hydro-thermal-wind power system. Socially efficient and monopoly hydropower allocation solutions are presented. Market power utilization potential for hydropower is reduced during low demand periods when residual demand crosses the elastic part of thermal supply curve. Conversely, in high demand periods when the residual demand crosses the inelastic part of thermal supply curve, real potential for market power utilization exists. Compared to thermal power systems, wind value factors are high as efficiently allocated hydropower buffers wind power shocks. Monopoly hydroallocation decreases wind power value and the gap to wind values under socially efficient hydropower widens as wind market share increases.","PeriodicalId":204209,"journal":{"name":"SRPN: Energy Politics (Topic)","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-03-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125398955","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A Comparative Analysis of Environmental and Economic Costs of PV Solar Imports and Manufacturing: China vs. Ontario, Canada","authors":"P. Walsh, E. Nguyen","doi":"10.2139/ssrn.3142649","DOIUrl":"https://doi.org/10.2139/ssrn.3142649","url":null,"abstract":"Solar energy is one of the most suitable renewable sustainable energy options with the opportunity to reduce greenhouse gas emissions. The use of photovoltaic (PV) technology is carbon neutral; however, the manufacturing of panels produces measurable carbon emissions. Recently, Canadian solar panel companies filed a complaint with the Canadian government claiming subsidized PV modules from China were being dumped into Canada and were threatening the domestic industry. In response, import duties were applied to imported Chinese solar equipment. Aside from the trade issues, this study seeks to examine if there is merit in addressing any carbon emission costs to importing from China as compared to manufacturing PV solar modules in Ontario. Using the CS6X-P PV module as a case study, a life cycle assessment (LCA) was performed to evaluate environmental impacts from manufacturing on a “cradle to gate” basis. Two supply chain scenarios were compared to develop environmental and economic costs for PV modules. The carbon emission difference between the current supply chain involving imports of Chinese PV modules into Ontario, Canada and a hypothetical Ontario-based supply chain was calculated to determine a comparative carbon cost. LCA results for the CS6X-P show that when environmental impacts are translated into an economic cost, it is not significant enough to encourage a change in the current supply chain for Ontario-based manufacturing. This study challenges current policies of pricing carbon in Canada.","PeriodicalId":204209,"journal":{"name":"SRPN: Energy Politics (Topic)","volume":"190 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-03-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115727566","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}